"Rising Costs and Poor Content Drive Surge in Streaming Subscription Cancellations"
Streaming services are facing increased customer cancellations, with the rate rising from 5.1% to 6.3% in November, as reported by the Wall Street Journal using data from Antenna. This trend coincides with several platforms, including Amazon Prime Video, Netflix, Peacock, Paramount+, Hulu, and Apple TV+, raising their subscription prices or introducing ad-supported plans to offset costs and boost revenue. Netflix has seen about 30% of new subscribers choosing its ad-supported plan, indicating a shift in consumer preference towards cheaper options amidst the rising costs of streaming subscriptions.